Federated Hermes Inc. Trims Stock Holdings in Merchants Bancorp (NASDAQ:MBIN)

Federated Hermes Inc. reduced its position in Merchants Bancorp (NASDAQ:MBIN) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,912 shares of the company’s stock after selling 14,016 shares during the quarter. Federated Hermes Inc. owned about 0.64% of Merchants Bancorp worth $11,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MBIN. nVerses Capital LLC boosted its stake in Merchants Bancorp by 650.0% during the 2nd quarter. nVerses Capital LLC now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,300 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Merchants Bancorp during the first quarter worth about $202,000. Wellington Wealth Strategies LLC. purchased a new position in shares of Merchants Bancorp during the first quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Merchants Bancorp by 79.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,755 shares of the company’s stock valued at $193,000 after acquiring an additional 2,101 shares during the period. Finally, Comerica Bank raised its stake in Merchants Bancorp by 14,856.3% during the 1st quarter. Comerica Bank now owns 4,786 shares of the company’s stock valued at $207,000 after acquiring an additional 4,754 shares during the last quarter. 24.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Randall D. Rogers sold 75,000 shares of Merchants Bancorp stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the sale, the insider now directly owns 748,000 shares in the company, valued at approximately $32,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Michael F. Petrie sold 22,050 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.34, for a total value of $999,747.00. Following the sale, the chief executive officer now directly owns 1,990,545 shares in the company, valued at approximately $90,251,310.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Randall D. Rogers sold 75,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $3,300,000.00. Following the completion of the sale, the insider now directly owns 748,000 shares in the company, valued at $32,912,000. The disclosure for this sale can be found here. 39.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MBIN has been the subject of several analyst reports. Raymond James cut Merchants Bancorp from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $58.00 in a research note on Tuesday, July 30th. Morgan Stanley assumed coverage on shares of Merchants Bancorp in a research report on Monday, September 9th. They set an “equal weight” rating and a $54.00 price objective for the company.

Merchants Bancorp Stock Performance

NASDAQ MBIN opened at $44.88 on Tuesday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 7.05 and a beta of 1.10. The business’s 50 day moving average is $44.59 and its two-hundred day moving average is $42.47. Merchants Bancorp has a 12-month low of $25.78 and a 12-month high of $53.27. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.08). Merchants Bancorp had a return on equity of 25.54% and a net margin of 23.14%. The business had revenue of $359.62 million for the quarter, compared to analyst estimates of $160.70 million. During the same period in the prior year, the company earned $1.31 EPS. Research analysts expect that Merchants Bancorp will post 6.09 EPS for the current year.

Merchants Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, September 13th. Merchants Bancorp’s dividend payout ratio (DPR) is 5.65%.

Merchants Bancorp Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.